Energy Suppliers

[V_R]

Bulb on the brink of collapse apparently...

https://news.sky.com/story/bulb-on-brink-of-collapse-amid-government-talks-with-creditor-12475565

 

[200sols]

Been on the brink for a while now, looks like the SAR will be happening now though. Got £350 credit with them, website was slow when I was downloading statements etc.

 

[413x]

Bulb on the brink of collapse apparently...

https://news.sky.com/story/bulb-on-brink-of-collapse-amid-government-talks-with-creditor-12475565

Almost everyone with bulb is on variable right? So they've likely been running a loss for significant time.
This will continue for months. How can they not collapse?

 

[200sols]

Almost everyone with bulb is on variable right? So they've likely been running a loss for significant time.
This will continue for months. How can they not collapse?

They only have one tariff and it is variable yes.

 

[413x]

They only have one tariff and it is variable yes.

The losses must be horrendous. Especially running on thin margins

 

[Blackjack Davy]

Get the old meter taken out and a normal smart meter put in? It should be straight forward assuming you don’t have anything connected to any dedicated storage heater circuits anymore from the meter.

I'm on Eon's list of "interested in smart meters" whenever they get around to installing them in my area...

 

[200sols]

The losses must be horrendous. Especially running on thin margins

19.68p for electricity is what they charge me on that tariff. Must be losing millions.

 

[ChrisD.]

Bulb are going into administration according to the BBC.

 

[el_dazza]

Thats Bulb gone then

 

[ChrisD.]

We're planning to enter Bulb into special administration.
We want to reassure all Bulb members there will be no change to your energy supply. Please don't worry – you will continue to have power and your credit balance is protected.

https://bulb.co.uk/blog/bulb-special-administration

 

[nine_tails]

We're planning to enter Bulb into special administration.
We want to reassure all Bulb members there will be no change to your energy supply. Please don't worry – you will continue to have power and your credit balance is protected.

https://bulb.co.uk/blog/bulb-special-administration

Oh boy. I am on the titanic.

 

[andy_mk3]

I left Bulb 2 weeks ago due to a house move, got my £300 credit back too. Seems like I was just in time

 

[dlockers]

Special administration = Bulb probably tipped the balance on "too big to fail".

 

[Semple]

Special administration = Bulb probably tipped the balance on "too big to fail".

Yeah i think this was hinted at weeks ago as most of the SOLR's are having a hard time incorporating accounts from suppliers with only 10's of thousands of customers. To try and merge in a 1.7 million customer base would probably take them the best part of a year!

 

[Journey]

Nobody could afford to take on Bulb's customer base without putting themselves/their own company at risk, Greg Jackson from Octopus said that they couldn't negotiate a deal for the customer base that would allow them to consider it as a viable take over either.

Seems like there will only be a few suppliers left come end of Q1 '22.

 

[Semple]

Nobody could afford to take on Bulb's customer base without putting themselves/their own company at risk, Greg Jackson from Octopus said that they couldn't negotiate a deal for the customer base that would allow them to consider it as a viable take over either.

Seems like there will only be a few suppliers left come end of Q1 '22.

I suspect once things stabilise you'll start to see newcomers to the market - likely from the same directors etc of previous companies that have gone bust.

 

[LiE]

I'm with Bulb

Is it worth starting a move to someone like Octopus Energy now?

 

[Snookums]

I'm with Bulb

Is it worth starting a move to someone like Octopus Energy now?

Moving is probably one of the worst things you can do right now. As its special administration my understanding is pretty much nothing changes for us as consumers, atleast not for a while

 

[Sinbad2000]

I'm with Bulb

Is it worth starting a move to someone like Octopus Energy now?

FYI I spoke to Octopus earlier this morning. Their fixed rate is around 35p/kwh for elec and 10p/kwh for gas at the moment.

 

[200sols]

I'm with Bulb

Is it worth starting a move to someone like Octopus Energy now?

No, nothing is going to change for us at the moment, switching is the worst thing you can do, octopus will be far more expensive.